Chevron Dodges Bullet

Looks like Honduras won’t seize Chevron’s oil tanks after all. Last week, President Manuel Zelaya announced his soldiers would seize oil storage facilities belonging to Chevron and other international energy giants, in an effort to ease a bad gas price hike that threatened to cripple the economy. But according to the International Herald Tribune, the government backed down after the American ambassador warned that the move would have “serious” consequences.

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